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Standard & Poor's Announces Review Of S&P/TSX Preferred Share Index
January 14, 2011Standard & Poor's Canadian Index Operations announces the following index changes as a result of the quarterly S&P/TSX Preferred Share Index Review. These changes will be effective at the open on Monday, January 24, 2011:
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ADDITIONS | ||
| Symbol | Issue Name | CUSIP |
| ALA.PR.A | ALTAGAS LTD. 5YR SERIES 'A' PR | 021361 20 9 |
| BMO.PR.H | BANK OF MONTREAL CL 'B' PR SERIES 5 | 063671 85 3 |
| BAM.PR.B | BROOKFIELD ASSET MANAGEMENT INC CL A PR SER 2 | 112585 20 3 |
| BAM.PR.T | BROOKFIELD ASSET MANAGEMNT INC CL A PR SER 26 | 112585 72 4 |
| BCE.PR.C | BCE INC. 1ST PR SERIES 'AC' | 05534B 78 6 |
| BCE.PR.G | BCE INC. 1ST PR SERIES 'AG' | 05534B 73 7 |
| BCE.PR.R | BCE INC. 1ST PR SERIES 'R' | 05534B 70 3 |
| BCE.PR.T | BCE INC. 1ST PR SERIES 'T' | 05534B 81 0 |
| BCE.PR.Y | BCE INC. 1ST PR SERIES 'Y' | 05534B 85 1 |
| BPO.PR.P | BROOKFIELD PROPERTIES CORP. CL AAA PR SER 'P' | 112900 81 6 |
| FFH.PR.G | FAIRFAX FINANCIAL HOLDINGS LTD. SER 'G' PR | 303901 86 2 |
| FFH.PR.I | FAIRFAX FINANCIAL HOLDINGS LTD. SER 'I' PR | 303901 84 7 |
| FTS.PR.E | FORTIS INC. 1ST PR SERIES 'E' | 349553 80 0 |
| FTS.PR.H | FORTIS INC. 5-YR RESET 1ST PR SERIES 'H' | 349553 82 6 |
| GWO.PR.F | GREAT-WEST LIFECO INC. PR SERIES 'F' | 39138C 80 9 |
| GWO.PR.M | GREAT-WEST LIFECO INC. 5.80% 1ST PR SERIES M | 39138C 81 7 |
| GWO.PR.N | GREAT-WEST LIFECO INC. 3.65% 1ST PR SERIES N | 39138C 79 1 |
| IAG.PR.F | INDUSTRIAL ALLIANCE INS & FIN SERV 5.90% PR F | 455871 50 9 |
| NA.PR.L | NATIONAL BANK OF CANADA 1ST PR SERIES '16' | 633067 51 7 |
| PWF.PR.O | POWER FINANCIAL CORP. 5.80% SERIES 'O' 1ST PR | 73927C 78 7 |
| RY.PR.F | ROYAL BANK OF CANADA 1ST PR NON-CUM SER 'AF' | 780102 65 3 |
| TA.PR.D | TRANSALTA CORPORATION 1ST PR SER 'A' | 89346D 76 8 |
| TD.PR.Q | TORONTO-DOMINION BANK (THE) CL 'A' 1ST PR Q | 891145 30 2 |
| TD.PR.Y | TORONTO-DOMINION BANK (THE) 5-YR RESET PR Y | 891145 70 8 |
| WN.PR.A | WESTON LTD. GEORGE 5.80% PR SER '1' | 961148 88 9 |
There are NO deletions to the S&P/TSX Preferred Share Index as part of the quarterly review
Company additions to and deletions from an S&P index do not in any way reflect an opinion on the investment merits of the company.
Source: Standard & Poors
ETF Securities Kicks off 2011 with another First-to-Market ETF ETFS Physical Asian Gold Shares (AGOL) is the first U.S. precious metals product to be vaulted in Asia
January 13, 2011--ETF Securities announced today that ETFS Physical Asian Gold Shares will list on the NYSE Arca on January 14, 2011, trading under the ticker AGOL "Asian Gold". AGOL is the first U.S. precious metals product to be vaulted in Asia and will be held in Singapore, the gateway to Asia.
Key highlights of ETFS Asian Gold (AGOL):
Allocated Gold Stored in Singapore:
ETFS Physical Asian Gold Shares (AGOL) will custody all of its physical gold bars in secure LBMA approved vaults in Singapore.
Gold Physically Backed: ETFS Physical Asian Gold Shares (AGOL) are backed by London Bullion Market Association (LBMA) gold bars that meet "good delivery" standards.
Diversification: Investors can diversify their gold holdings either into Asia using AGOL or Switzerland using the existing SGOL. Both ETPs are offered at 0.39% per annum. (3)
Transparency– Gold bars underlying AGOL will be audited bi-annually by an independent third party auditor. All gold bar numbers will be published daily at www.etfsecurities.com
Breadth of Precious Metal ETPs – ETF Securities now offers seven precious metal ETPs with a variety of single and basket precious metal ETPs. (5) ETFS Physical Asian Gold Shares (AGOL):
The objective of the ETFS Physical Asian Gold Shares (AGOL) is to reflect the price performance of physical gold, less Trust expenses. The Trust is open ended and is designed for investors who want a cost-effective (1) and convenient (2) way to invest in or diversify their existing gold holdings. AGOL has an expense ratio of 0.39% per annum. (3)
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Source: ETF Securities
Charles Schwab Rolls Out REIT, Mid-Cap ETFs
January 13, 2011--On Thursday, Jan. 13, financial-services giant Charles Schwab rolled out two new, very low-cost exchange-traded funds: Schwab U.S. REIT ETF (SCHH) and Schwab U.S. Mid-Cap ETF (SCHM
The new funds clearly are aimed both at undercutting other ETFs tracking the very same indexes and at solidifying Schwab's status as a low-cost ETF provider. The new ETFs are the 12th and 13th ETFs that Schwab has brought to market since entering the ETF marketplace in November 2009. SCHH is targeted at investors interested in owning a basket of REITs that own commercial and residential real estate.
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Source: Morningstar
iShares files with the SEC
January 13, 2011--iShares has filed a post-effective amendment, registration statement with the SEC for
The iShares MSCI China Index Fund.
read more
Source: SEC.gov
Claymore files with the SEC
January 13, 2011--Claymore has filed a post-effective amendment, registration statement with the SEC for
Guggenheim BulletShares 2016 High Yield Corporate Bond ETF
Guggenheim BulletShares 2017 High Yield Corporate Bond ETF
Guggenheim BulletShares 2018 High Yield Corporate Bond ETF
Guggenheim BulletShares 2019 High Yield Corporate Bond ETF
Guggenheim BulletShares 2020 High Yield Corporate Bond ETF
read more
Source: SEC.gov
Claymore files with the SEC
January 13, 2011-- Claymore has filed a post effective amendment, registration statement with the SEC for
Guggenheim BulletShares 2012 High Yield Corporate Bond ETF
Guggenheim BulletShares 2013 High Yield Corporate Bond ETF
Guggenheim BulletShares 2014 High Yield Corporate Bond ETF
Guggenheim BulletShares 2015 High Yield Corporate Bond ETF
view filing
Source: SEC.gov
Volatility Delays Vanguard's Muni Index Fund, ETF Plans
Vanguard delays three muni bond funds
January 13, 2011--Vanguard has decided to indefinitely put off the launch of three new municipal-bond index funds and exchange-traded funds.
Vanguard filed with the Securities and Exchange Commission to withdraw its application to launch mutual fund and ETF shares for Vanguard Short-Term Municipal Bond Index, Vanguard Intermediate-Term Municipal Bond Index, and Vanguard Long-Term Municipal Bond Index.
Vanguard had filed to launch these offerings, which were to track benchmarks in the S&P National AMT-Free Municipal Bond Index series, in June 2010.
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Source: FT.com
US regulator eyes curbs on speculators
January 13, 2011--Sweeping plans to curb speculation in raw materials including oil, gold and wheat have been proposed by US regulators
The plans come amid fears that surging prices for fuel and agricultural commodities could lead to a food crisis and threaten recovery.
The Commodity Futures Trading Commission voted 4-1 to propose “position limits” – caps on investor positions – in 28 commodities.
read more
Source: CFTC.gov
CFTC to Hold Open Meeting on Tenth Series of Proposed Rules under the Dodd-Frank Act
January 13, 2011--The Commodity Futures Trading Commission (CFTC) will hold a public meeting on Thursday, January 20, 2011, at 9:30 a.m. to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics:
Commodity Options and Agricultural Swaps;
Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations;
Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and Commodity Trading Advisors on Form PF (joint with the Securities and Exchange Commission); and Swap Trading Relationship Documentation Relating to Termination Provisions Implicated Under Title II of the Dodd-Frank Act.
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Source: CFTC.gov
Statement, Prior to Notice of Proposed Rulemaking – Position Limits for Derivatives
Commissioner Scott D. O’Malia
January 13, 2011-Introduction
I believe that releasing this proposed rule for comment in its present form while simultaneously implementing a separate “position points” directive is an attempt to set position limits that is inconsistent with the language and purpose of the Dodd-Frank Act. I believe that the proposed rule and the supplemental directive will create uncertainty regarding the regulatory standards for Commission action and enforcement in a way that does not comply with the requirements of the Administrative Procedure Act (APA).
The uncertainty that will result from the publication of both the Commission’s rule proposal and a “position points” directive will stymie the ability of market participants, and specifically large commercial interests, to manage their hedging and investment strategies. Semantics and affirmations of intent will not lessen the real impact of what essentially amounts to an attempt to affect legal rights and obligations. Although the Notice of Proposed Rulemaking is identical to the one presented to the Commission at its December 16, 2010 meeting, the new “position points” directive operates as a Trojan horse by attempting to articulate a requirement of general applicability without providing an opportunity for public notice and comment. Accordingly, I have identified three serious problems with the “position points” directive, and have three recommendations for the Commission.
The Proposed Position Limits Rule and the Trojan Horse
While I believe this proposed rule is significantly improved from the Commission’s pre-Dodd-Frank proposal for imposition of position limits in certain energy contracts,1 it remains flawed by its complexity and unenforceability due to technological hurdles and a lack of reliable data in the near term. These weaknesses will not be resolved by “position points.”
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Source: CFTC.gov
